Charles Schwab Investment Management Inc. Buys 524,799 Shares of Workday, Inc. (NASDAQ:WDAY)

Charles Schwab Investment Management Inc. grew its stake in Workday, Inc. (NASDAQ:WDAY) by 62.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,360,002 shares of the software maker’s stock after buying an additional 524,799 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Workday were worth $350,921,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in WDAY. Roxbury Financial LLC acquired a new stake in Workday during the 4th quarter valued at approximately $25,000. Capital Performance Advisors LLP bought a new stake in shares of Workday in the 3rd quarter valued at $26,000. Crews Bank & Trust acquired a new stake in shares of Workday during the fourth quarter worth $26,000. Avion Wealth raised its stake in Workday by 452.6% during the fourth quarter. Avion Wealth now owns 105 shares of the software maker’s stock worth $27,000 after buying an additional 86 shares during the last quarter. Finally, Meeder Asset Management Inc. lifted its holdings in Workday by 42.2% in the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock valued at $35,000 after buying an additional 43 shares during the period. 89.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

WDAY has been the subject of a number of recent analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $300.00 price target on shares of Workday in a report on Wednesday, February 26th. Morgan Stanley downgraded Workday from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $330.00 to $275.00 in a report on Wednesday, February 19th. Wells Fargo & Company increased their price target on Workday from $330.00 to $360.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Bank of America reduced their price objective on shares of Workday from $310.00 to $285.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Workday from a “hold” rating to a “buy” rating and boosted their target price for the company from $265.00 to $300.00 in a research report on Wednesday, January 8th. Ten equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $302.14.

Workday Stock Performance

Shares of WDAY stock opened at $259.61 on Thursday. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. The firm has a 50-day moving average of $258.98 and a 200-day moving average of $255.49. Workday, Inc. has a one year low of $199.81 and a one year high of $294.00. The company has a market cap of $69.06 billion, a P/E ratio of 43.05, a P/E/G ratio of 3.55 and a beta of 1.35.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Tuesday, February 25th. The software maker reported $0.48 EPS for the quarter, missing the consensus estimate of $1.75 by ($1.27). Workday had a net margin of 19.86% and a return on equity of 6.13%. The firm had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.18 billion. Equities research analysts forecast that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Carl M. Eschenbach sold 6,250 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $253.86, for a total transaction of $1,586,625.00. Following the completion of the sale, the chief executive officer now owns 13,972 shares in the company, valued at approximately $3,546,931.92. This trade represents a 30.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder David A. Duffield sold 57,000 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $275.31, for a total transaction of $15,692,670.00. Following the transaction, the insider now directly owns 284,000 shares of the company’s stock, valued at $78,188,040. This represents a 16.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 435,829 shares of company stock worth $113,033,319. 20.00% of the stock is owned by company insiders.

Workday Profile

Workday, Inc provides enterprise cloud applications in the United States and internationally. Its applications help its customers to plan, execute, analyze, and extend to other applications and environments to manage their business and operations. The company offers a suite of financial management applications to maintain accounting information in the general ledger; manage financial processes, such as payables and receivables; identify real-time financial, operational, and management insights; enhance financial consolidation; reduce time-to-close; promote internal control and auditability; and achieve consistency across finance operations.